Heroes Business Opportunity Act of 2025 | ChamberLight
Bills · S 3136
IN COMMITTEE· 119TH CONGRESS
Senate BillS 3136Commerce
Heroes Business Opportunity Act of 2025
INTRO NOV 6· LAST ACTION NOV 6
READING
2MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
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Voters should care about this bill because it aims to support veterans and their families in starting or expanding small businesses, which are crucial for economic growth and job creation. By waiving an upfront fee on certain government-backed loans, the bill reduces a financial hurdle for veteran entrepreneurs. This could lead to more new businesses, especially among a group that has served the country.
If this bill becomes law, eligible veteran-owned small businesses could save hundreds or even thousands of dollars on a loan, making it easier to secure financing and invest that money into their business. If it doesn't pass, these businesses would continue to pay the guarantee fee, potentially making it harder for some to access the capital they need to grow or start up. It reflects a policy choice about how the government supports those who have served in the military to transition into civilian economic life.
KEY PROVISIONS
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PROVISION 01
Waives the guarantee fee charged by the Small Business Administration (SBA) for certain business loans.
This makes it cheaper for eligible small businesses to obtain government-backed financing, removing an upfront cost.
PROVISION 02
Applies the fee waiver specifically to small businesses owned by veterans, military reservists, individuals eligible for military transition programs, or their spouses, including certain surviving spouses.
It targets a specific group for economic support, aiming to boost veteran entrepreneurship and provide tangible benefits to military families.
PROVISION 03
Sets a limit for the fee waiver, applying only when the Small Business Administration's guaranteed portion of the total loan amount is $1,000,000 or less.
This provision focuses the benefit on loans where the government's financial exposure is below a certain threshold and avoids waiving fees on very large guaranteed portions.
PROVISION 04
Excludes microloans and Community Advantage loans from the fee waiver.
This clarifies which specific types of SBA loans are not covered by the waiver, ensuring it targets standard business loans.
Voters should care about this bill because it aims to support veterans and their families in starting or expanding small businesses, which are crucial for economic growth and job creation. By waiving an upfront fee on certain government-backed loans, the bill reduces a financial hurdle for veteran entrepreneurs. This could lead to more new businesses, especially among a group that has served the country.
If this bill becomes law, eligible veteran-owned small businesses could save hundreds or even thousands of dollars on a loan, making it easier to secure financing and invest that money into their business. If it doesn't pass, these businesses would continue to pay the guarantee fee, potentially making it harder for some to access the capital they need to grow or start up. It reflects a policy choice about how the government supports those who have served in the military to transition into civilian economic life.
KEY PROVISIONS
AI-extracted
high
Waives the guarantee fee charged by the Small Business Administration (SBA) for certain business loans.
This makes it cheaper for eligible small businesses to obtain government-backed financing, removing an upfront cost.
high
Applies the fee waiver specifically to small businesses owned by veterans, military reservists, individuals eligible for military transition programs, or their spouses, including certain surviving spouses.
It targets a specific group for economic support, aiming to boost veteran entrepreneurship and provide tangible benefits to military families.
med
Sets a limit for the fee waiver, applying only when the Small Business Administration's guaranteed portion of the total loan amount is $1,000,000 or less.
This provision focuses the benefit on loans where the government's financial exposure is below a certain threshold and avoids waiving fees on very large guaranteed portions.
med
Excludes microloans and Community Advantage loans from the fee waiver.
This clarifies which specific types of SBA loans are not covered by the waiver, ensuring it targets standard business loans.
GLOSSARY
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Guarantee Fee
An upfront fee charged by the Small Business Administration (SBA) to lenders on the portion of a loan that the SBA guarantees, helping to cover the cost of the guarantee program. This bill proposes to waive this specific fee for certain loans.
Small Business Act
The main law governing the Small Business Administration (SBA) and its programs designed to support small businesses in the United States.
Small Business Administration (SBA)
A U.S. government agency that supports entrepreneurs and small businesses, often by guaranteeing loans made by private lenders.
Small Business Concern
A business that meets specific size standards set by the Small Business Administration, typically based on factors like number of employees or average annual revenue.
Deferred Participation Share
The portion of a business loan that the Small Business Administration (SBA) guarantees to repay if the borrower defaults. For example, if the SBA guarantees 75% of a $1 million loan, the deferred participation share is $750,000.
Transition Assistance Program (TAP)
A program established by the Department of Defense to help service members and their spouses prepare for civilian life, including job search assistance and information on benefits.
ACTION TIMELINE
2 EVENTS
NOV 6, 25
Introduced in Senate
INTROREFERRAL
NOV 6, 25
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Refers to the reserve forces of the U.S. Armed Forces, such as the Army Reserve, Navy Reserve, Air Force Reserve, Marine Corps Reserve, Coast Guard Reserve, Army National Guard, and Air National Guard. Members typically serve part-time but can be called to active duty.
